October 12, 2022 • 27 mins
My guest for today's show is Chuck Bates. He works for Stegent Equity Advisors, which provide comprehensive planning and managing of assets for families and individual financial needs.
He is a collegiate planner with an expertise in helping families/students save thousands of dollars in college tuition. He understands and has researched financial aide programs, individual college business models, numerous government grants, and scholarships available based on merit or financial needs.
We talked specifically about a program called Name Image and Likeness,(NIL) for athletes in the college arena. This program protects an athlete from the pitfalls of the financial gains and deals that are made in on their behalf in order to earn money.
Chuck is a great resource for anyone looking for ways to save and gain money for college and for financial planning for your future. Website: www.stegentequity.com; Linkedin - https://www.linkedin.com/in/steven-chuck-bates/; Twitter - @CBatesSEA; Facebook - https://www.facebook.com/StegentEquity
Contact info: chuck@stegentequity.com, Phone: 832-465-3913
SPONSORED BY: Kefi Spaces, Houston, TX. https://kefispaces.com/ Co-Warehousing, Fulfillment, office space and more. Call today 713-661-2701.
If you liked today's show - please let Laura know by either contacting her at laura@fisherpodcast.com or give her a great review. Also, if you know of someone who would be an inspiring guests, let her know… even if it's you. Until then… "You better be Up to something!"
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Laura Fisher (00:02):
Welcome to small business insights where back
office conversations give usinsight to what's really going
on. Is it grit, or luck? Thatgives a small business owner an
advantage? Let's find out. I'myour host, Laura Fisher. All
right. Well, today in thestudio, I have a special guest,
(00:24):
Steven Bates, but he goes bycheck. And he's from CJ equity
advisors. Check, say hello.
Unknown (00:31):
Hello. Thank you for having me.
Laura Fisher (00:32):
All right. This is his first time in the studio. So
I'm, I'm, I wish I could seehim. He's a good looking man,
you'll see a picture in theartwork and social media. But
he's got some special interestwhen it comes to financial
planning. But before we get intothat, Chuck, tell me how you got
here?
Chuck Bates (00:51):
Sure. So I'm a military brat. I grew up
overseas. My dad was in the AirForce. I ultimately went to the
University of Nebraska. Afterthat, I'm
Laura Fisher (01:01):
supposed to say something after that Go Big Red.
Okay,
Unknown (01:04):
there you go. It's especially painful today because
our head coach was firedyesterday.
Laura Fisher (01:08):
Oh, my cars are just what they lose it.
Unknown (01:12):
Yeah, it was. It's unfortunate. But yeah, it's it's
probably definitely warranted.
All
Laura Fisher (01:17):
right. All right.
So I'm sorry. I usually whensomebody says it from Nebraska,
they usually have something tosay afterwards.
Chuck Bates (01:23):
I'm a little sad today. Okay. Yeah, so I work for
Steve and equity advisors. I'vebeen there about two years. I
started into this path after 16years at a big asset management
firm here in Houston. Thatallowed me to be exposed to a
huge number of nonprofitcompanies. Bridgeway gave 50% of
their profits to charity. Andthrough that process, it led to
(01:45):
my wife and I becoming fosterparents and adoptive parents. In
that process, I learned that ifa child has spent time in the
foster care system, they getfree tuition or tuition waivers
to any public university in thestate of Texas. And it was very
curious to me, I was like, if Ididn't know that, what else
Don't I know? Yeah, started tostudy that and found out I could
(02:06):
make a entrepreneurial careerout of
Laura Fisher (02:08):
it. Out of what helping folks find Career Money
helping college money.
Chuck Bates (02:14):
Yes, ma'am. Helping college bound families save,
learn about how the financialaid system works. Determine what
kind of student or uniquesituation they have in in, if
you keep an open mind about yourschool list and where you want
to go. There's a lot of moneyout there, and most families can
save somewhere between two and$20,000 a year.
Laura Fisher (02:31):
Wow. So are you talking about student that has
academics? Except excellence? Orjust talking about you said,
foster care? That's kind of awhat a, an anomaly? I mean, how
do you find out these things?
That's you go to you
Unknown (02:44):
what exactly. So I started by dissecting the
federal financial aid formula,it comes out once a year, and
there's a lot of intro inputsthat go into it. Examples would
be, and they apply very much toyou and your audience. If you're
a small business owner, and youhave more than 100 employees,
they'll assess the value of yourbusiness before they give you
(03:05):
financial aid. If you have lessthan 100 employees, they don't
assess the value of yourbusiness. So like in a case like
that a business with a modestnet income of 100 $100,000 could
technically be valued up to, youknow, close to a million
dollars, and that woulddramatically impact the amount
of student aid you might beeligible or based on your
business not eligible for.
Laura Fisher (03:27):
Wow, I don't like the news of that. What other
kinds of surprises are outthere?
Unknown (03:32):
divorced families, right? If you're divorced in
your student lives with a parentthat has the lower income 51% of
the time, they only assess someschools only assess that parents
income for financial purposes.
Other schools will assess bothparents and some schools will
assess both parents and ifthey've remarried the additional
parents.
Laura Fisher (03:54):
So that's where you're saying you kind of know
what institutions to go to andwhat rules. So how do you get
your knowledge on things likethat,
Chuck Bates (04:02):
I've been lucky to meet a number of mentors in the
field. There's software outthere that can help with it. So
you just continue to study, youlearn the formulas, you you dig
into the how each school'sbusiness model works, right?
Rice, for example. They don'tnecessarily give a lot of merit
scholarships for great academicgrades. But if you're good
(04:23):
enough student to get acceptedthere and you have a low income,
they meet nearly 100% of yourneed with aid and grants. So
that means money, you don't haveto pay back where a lot of other
schools, they may meet a smallerpercentage, and then of that
smaller percentage, it will be acombination of grants and loans.
So you're in addition to notcovering the full amount, you're
borrowing money that you'll haveto pay back at a later day.
Laura Fisher (04:45):
All right, so as a financial planner, how do you
when do you start with a family?
Is it when my child is born?
Like I set up the collegesavings account when they're six
months old? Or is that house howsoon you start or when do you
really start?
Unknown (04:59):
That is the best time To start saving for, for sure.
There's what 218 months from thetime a child is born until they
leave, oh my gosh, you alreadyhave numbers for college. And if
you think about what it cost togo to college right now, it's
about 30,000 a year. So 120,000for four years, if you divide
that number out, you're lookingat five to $600 a month, and
(05:20):
it's unrealistic for a lot offamilies to save that much. If
you have two or three or fourkids, it grows exponentially.
Laura Fisher (05:27):
Right? And how are scholarships easy to find? I
know for I was disillusioned, Iwill tell you this, I have four
children. One of my childrengraduated the top 10% of his
class, only missed one mathquestion on the LSAT. Okay, so
he got automatically acceptedinto Texas a&m, but a very
(05:50):
nominal like $1,000 scholarship.
Right? That was it? Yeah.
Unknown (05:56):
So in Texas and California, those two states
especially, there's such demandto get into the in state
schools, that they're notnecessarily very generous with
either need or merit based aid,right? There's, you know, they
accept maybe 8000 Incomingfreshmen a year, give or take.
And if you just think about thetop 10%, or now it's down to top
(06:18):
6%. You know, there's more thanenough students to fill their
entire demand, where a lot ofother schools don't have that
same challenge.
Laura Fisher (06:27):
So that's when I come to you or a college
planner, saying, I got thisexceptional student, but I don't
have the money to put them inthere. He's got his eyes set on
Texas a&m, can you help him?
What steer in a differentdirection? Is that what you do?
Unknown (06:42):
So we would look at the student's grades and test
scores, and about 85% of allscholarship dollars come from
the institutions themselves. Andthat's kind of the middle of the
road private schools that aremost generous with academic
finance based financial
Laura Fisher (06:58):
state schools.
Exactly. Okay. And then I think,Oh, I can't afford that. Because
it's a private school
Unknown (07:04):
right? There. sticker prices are typically more
expensive, and parents getdiscouraged or scared off by
that. But the reality is the netcost after the merit based
scholarships, almost alwaysbring those closer to in line
with the state schools. That'stheir Bogey, these private
schools, they realize that's whothey're competing against. And a
(07:25):
lot of them want to bring inbetter academic students to
bring up the kind of standingsor rankings, I'm sure
everybody's seen money, orForbes, or all these different
rankings. And by bringing inbetter test scores, and grade
point averages from out ofstate, their freshman class
typically looks better, and theyuse that merit base made aid as
(07:48):
an incentive to bring down thecost and get the best students.
Laura Fisher (07:51):
Now, as a financial planner, you know, I
know you're going to encourageus to start saving, are there
all kinds of saving packages anddifferent ways to do it
programs? I know Texas has some,I'm sure they're in other
states. And then like I have, Ihave another son, who I've saved
all this money up, but he's notgoing to college, what I do with
all that money,
Unknown (08:11):
so all great questions, there's a lot of choices. My I
have a son who has some somechallenges, and college may not
be in his future, we saved viaUTM a account for him. It's just
an investment account that is inthe child's name. And that
monies for has to be used forhis benefit. And my goal with
(08:32):
him is, you know, maybe he'llbecome a welder or H vac
engineer or something. And hecan use that to start a
business, right? We're bothentrepreneurs, we, we value
that. And, you know, he may haveto go through a apprenticeship,
but eventually he can be abusiness owner. And that would
be my goal. 529 plans are veryflexible. If you fund that name,
(08:54):
a beneficiary and not all themoney is used or a student does
does not go to college, you canchange the beneficiary to
another, another child or even aniece or nephew or grandchild
Laura Fisher (09:04):
that has to go towards education has to go to
education. You have to staywithin the state.
Unknown (09:08):
No, there's no requirements around that. And
that money can be withdrawn. Butthere could be financial
penalties. Well, that's a that'sthe case for anything. Yeah,
exactly. So it's not like it'sgone forever. And as you age,
there's something called an ABLEaccount it can be converted to
which helps with medical andother expenses in old age.
Laura Fisher (09:29):
Okay. So tell me about the firm you work for,
what kind of what kind ofclients do you have overall, I'm
sure you do more than collegiateplanning and, and all that. So
tell me a little bit more aboutyour firm. Sure stage
Unknown (09:41):
and equity advisors was founded by Lloyd stage and about
25 years ago. We manage assetsfor about 100 families to under
a million dollars give or take.
We provide tax planning, taxservices, investment management,
financial planning, retirementplanning, small business
assistance, so kind of concreteHands of financial planning
depending on where our clientsare, and we do our best to meet
(10:02):
them where they're at,
Laura Fisher (10:05):
and how many, how many planners, how many
financial planners are in youroffice,
Unknown (10:09):
there's three, three employees in the office, two
CFPs, and myself. And we worktogether as a team to provide
those services.
Laura Fisher (10:18):
That sounds like a nice, manageable shop. Like I'd
could call you and talk tosomebody,
Unknown (10:23):
you'll get somebody on the phone every time. That's,
that's a promise.
Laura Fisher (10:27):
That's good. All right. So you and I have been
talking about this nisl. And itsname, image and likeness for at
athletes in the college level.
So tell us what that means. Andthen after the break, we'll go a
little bit more into it.
Unknown (10:45):
Sure. It's a relatively new development a little over a
year ago, most of the states,there's 29, by my count recently
that have passed laws sayingthat students, student athletes
are now allowed to profit fromtheir name, image and likeness,
because of all the attentionthey bring to university. In
some cases, it can be very, veryprofitable or lucrative. And it
provides opportunities forstudents, student athletes that
(11:07):
they didn't have prior to this,where they were very restricted
by the NCAA rules on where andhow they could earn money. Which
was basically because the NCAAwas saying, you know, if you
give them these additionalbenefits, it's illegal and
you'll get unfair advantage andon the sporting field,
Laura Fisher (11:25):
yeah, it looks like you're bribing or payola or
some favoritism, and exactly allthat good stuff. And I'm sure
that has existed.
Unknown (11:32):
Oh, for sure. But but there's also been, you know,
great instances, I think, youknow, like Mike law of the The
Blind Side, you know, there's abig kind of concern that they
adopted him just to playfootball at Ole Miss. And
Laura Fisher (11:46):
that's right, that was implied in the movie as a
great movie. It was. But acollege athlete is at a
disadvantage, because it takes alot to be an athlete, it takes a
lot to go through college and doboth. And then they're not
allowed to have a job, or somekind of outside revenue. How's
(12:07):
that worked out? Yeah.
Unknown (12:08):
Previous to the change the there were very high
restrictions about when theycould work, what kind of job how
they could get paid. And it wasvery difficult for a lot of
them. Although they did receivea stipend, typically, it was not
very much, typically less than$300 a month, I believe, in most
cases. And that's not much totake a take a friend on a date
(12:29):
or go out to dinner, or, in somecases even traveled to see
friends or family or just buysome clothes buys. Exactly. It's
the things we take for granted.
Laura Fisher (12:39):
Yeah, those entertainment dollars as are
pretty important in college too.
All right, so when we come back,we're going to talk a little bit
about what the NIR why it cameabout. And maybe if you have a
young athlete, what you need tobe looking for and planning for
as they go into college. Allright. Sounds great. All right.
We'll be right back.
Unknown (13:00):
Ladies and gentlemen, this is your captain speaking.
Thank you for listening to smallbusiness insights. Today's show
is sponsored by GAVI spaces, newlocation in Houston, air
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(13:20):
district of Houston. And nowback to small business insights.
Laura Fisher (13:25):
All right, I'm back with Chuck Bates from CJ
equity advisors and we'retalking about the ni l. The name
image and likeness programthat's going on. I don't even
know what to call out
Unknown (13:38):
the country. Yes, almost half our states are more
than half our states now havelaws than the makeup acceptable.
Laura Fisher (13:45):
So I'm here. You know, our show here. We recorded
in Houston, and I'm familiarwith the Aggies. Right? And so I
remember when Johnny Manziel wasreally big. And was he the
Heisman Trophy winner? Yes. AHeisman Trophy, okay. And we
(14:05):
were going berserk about himbecause he was so unpredictable
and so fun to watch. He madebass F football fun to watch.
But they had shirts, Texas a&mshirts with his number on it.
But he wasn't getting anyroyalties off of that. Is that
right? At least not legally.
Okay, so So we'll say no,correct. All right. So that's
changed. That's what this isabout. Because when somebody is
(14:28):
benefiting off of my name, andlikeness and image, that's me.
That's my I'm the product andhere another institution was
selling it and benefiting fromit. And someone said, No, that's
wrong. Exactly. Okay. So tell usa little bit of history about
that.
Unknown (14:49):
So I think and this is just my opinion, I think it goes
all the way back to 2009. Therewas a famous basketball player
named Ed O'Bannon at theUniversity of California, Los
Angeles, UCLA. lay in there wasa quarterback at Arizona State
and ultimately Nebraska where Iwent that were part of a class
action lawsuit. Basically sayingit's unfair that the NCAA
(15:12):
profits for my name, image andlikeness, and I don't see any of
that share of revenue.
Laura Fisher (15:17):
Yeah, they're already limiting Him on any kind
of revenue, they're probablyfeeling hungry and whatever, you
know, taken advantage of.
Unknown (15:26):
And these, these student athletes bring a lot of
eyes to not only their program,but donations, donations. And,
you know, if you look at themost recent big tin meteorites
deal, it was $7 billion overseven years, that's a billion
dollars a year, that's goinginto the schools that's divided
to the schools.
Laura Fisher (15:46):
And the schools are dividing that however they
want to,
Unknown (15:49):
yeah, they they get their portion and can use it as
they see fit. And that's notgoing to the student athletes
always
Laura Fisher (15:56):
about money, let's just break it down to that.
Alright, so let's back to thestudent who is who's creating a
sensation, alright. And theycan't tell us where they are.
Unknown (16:08):
So they can now they can be a spot, or they can
advertise for companies. Theycan nice, yeah, they can do
autographs, they can have tshirts created for them. One of
my favorite ones, and Iapologize, I don't know the
young lady's name. But duringthe NCAA basketball tournament,
(16:28):
a basketball got shot up on topof the hoop and got stuck near
the timeclock at the very topright, and they couldn't reach
it. And they, you know, firstthey were trying to poke it with
a broom and different things.
And then eventually, two of thecheerleaders, one male and one
female went over there, and themale lifted up the female, and
she got the ball and the gamewent on, right. And they made a
t shirt about that. And she wasable to claim some of the
(16:50):
profits. And that's a neat kindof unexpected way where where
somebody was able to profit frombeing the face of that moment in
time.
Laura Fisher (17:00):
Okay. All right.
So how are they managing this?
Well,
Unknown (17:04):
each school is required to or not required, but has a
typically as a program that theyprovide kind of financial
literacy and education. Thenthere's the collective. So this
would be a group of fans thatkind of pools their money and
allows the athletes to get paidfrom the money but uses them
(17:25):
whether it's on social media toadvertise or market certain
things. Well, I
Laura Fisher (17:29):
know when I used to work at a&m, back way back
when and if you were going touse some their logo, you had to
go through licensing department.
So are they going to have thesame thing for student athletes,
student
Unknown (17:40):
athletes cannot use their logo or uniform when
they're doing outside activitiescurrently. Okay. So that's one
of the things I can't do, and itcould get them in trouble with
compliance in this in the statelaw. And that's one of my
biggest concerns, to be honest,is do the students, student
athletes know what they can andcan't do? Do the businesses that
are paying them know what theycan and can't do? And if a
(18:04):
business is maybe lessscrupulous, scrupulous, could
they, you know, intentionallyget a player in trouble or
unintentionally, you know, wejust want the best outcomes for
everybody. So the more we caneducate both the businesses and
the student athletes about whatis approved and not approved is
pretty important. Well, yeah.
Laura Fisher (18:21):
And if I'm a student athlete, I'm not going
to have the business savvy toapprove or disapprove who's
using my likeness.
Unknown (18:27):
Yeah, it's funny, you bring that up, because they took
a survey recently of studentathletes, and over 50% said they
wanted more training andeducation around the the
financial and legalramifications of being involved
in in IO. So this is a newfrontier. It really is. It's
it's happening on the fly. It'slike, it's like building an
(18:48):
airplane in the sky almost.
Laura Fisher (18:50):
So where do you see your part as a financial
adviser? Where do you see theeducation begin? And how can you
walk into athlete through that?
Unknown (19:00):
Really, it's just intellectual property and
research. The first thing I'dsay is the laws in the state you
went to high school, probablyaren't going to be the same as
the state you're going tocollege in assuming you go out
of state. If you stay in state,it's one thing but in a lot of
cases, those laws and rules aredifferent. The most striking one
to me in Texas is that highschool athletes are not allowed
(19:21):
to profit from NFL. So we had anexample of that with a young
student athlete from Dallas FortWorth. He was a highly regarded
quarterback recruit, and he leftthe state before high school was
finished, and went to college ina state where that was
acceptable, and why he left. Idon't know him personally, but a
lot of people have speculatedthat
Laura Fisher (19:43):
that's the case.
And so what was the consequence?
He went
Unknown (19:47):
there and was able to immediately start getting in il
deals. He stayed there for ayear and lo and behold, he
transferred back to UT startedas their starting quarterback
this weekend and was injured butuh oh wow. And, you know, so he
left the state that it wasn'tallowed him, went to another
state probably made some money,but we don't really know. And
(20:07):
his back is the startingquarterback at UT.
Laura Fisher (20:09):
Okay, let's talk about injury. So what are the
consequences if they don't getto fulfill their year of playing
and the expectations of theadvertiser is not met?
Unknown (20:22):
That's a great question. And it's one of the
biggest concerns I have, youknow, what if they don't meet
their obligations as a student?
What are the consequences? Howdo they go about that? Or if, on
the other flip side of thatcoin, if a student does
everything they do, and thebusiness doesn't meet their
obligations? Right? What RAM?
What? How can the student, youknow, become whole? If you will,
Laura Fisher (20:45):
right? It sounds like there's gonna be a whole
new industry of NIHL agents,
Unknown (20:51):
you're, you're definitely starting to see them.
And that's one of the bestthings with most of the state
rules, like, especially inTexas, and most of the other
states, the students are nowallowed to have professional
representation. And I thinkthat's one of the most important
things for them.
Laura Fisher (21:05):
It will help what they weren't able to do that as
well. That's part of it. Yeah,before you would lose your
eligibility. So if I, if I wasJohnny Manziel, are a high
performing athlete. In college,I wasn't allowed to have an
agent.
Unknown (21:19):
Correct, you would lose your NCAA eligibility. They
consider that becoming aprofessional basically.
Laura Fisher (21:25):
So I guess they just call him a friend. Right?
And you can't, there's no,there's not supposed to be any
connections or ties or stringsor anything attached.
Unknown (21:34):
Yeah, there was definitely a lot of that's
Laura Fisher (21:37):
a lot of promises.
I mean, how does that how does ayoung man or young woman know
that that friend is going to becredible?
Unknown (21:46):
Well, and in theory, they're not even supposed to
have contact with them untilthey've graduated and fulfill
their eligibility.
Laura Fisher (21:51):
But we know it happens. You think so?
Unknown (21:54):
In they don't. And I think that's why, you know, some
athletes probably were takenadvantage of. A lot of it
depends on their family and theconnections they have. You have,
they've been through some ofthose things before. You know, a
lot of these athletes are secondgeneration their parents played
in college in some of the samesports.
Laura Fisher (22:13):
Wow, it sounds like an opportunity. And also
sounds like a big mess. As faras administration of it.
Unknown (22:21):
Yeah. And, you know, at the University of Nebraska,
where I'm most familiar with thethere's a gentleman who left the
football program to create abusiness, athlete branding and
marketing. And that'sspecifically what he does. He's
an agent now and helps providethe legal compliance financial
accounting tax advice to thestudents, as they get deals.
Laura Fisher (22:44):
Wow. Wow. And they have to be good at it. I mean,
an exceptional athlete, I usedto one of my, I have quite a
checkered past. But one of themwas my I got my degree in music
business. And I learned therethat I like the back office
side, I'm a musician, but I liketo, I like the back office
(23:06):
business side of it. And whenyou have, when you let the
athlete or the performer dotheir thing, you don't you don't
have them worry about the backoffice thing. So they can
concentrate on their craft. Andthat can be very distracting. I
mean, I know in college, when Iwas at a&m and advising those
(23:26):
college students, boyfriends,and girlfriends can just be a
huge distraction, I can imaginefinancial deals and expectations
and having an advertiser say,Hey, you didn't perform like I
wanted you to Saturday, I'mgonna back out of this deal. I
mean, I'm sure that kind ofstuff half is gonna happen,
Unknown (23:44):
that could happen. And my concern is, you know, some of
these deals are not cash deal.
So maybe you get an apartmentand you do social media
appearances, or you get a carand you get to drive it for a
year. But all of those thingsare considered alternative
compensation. And the IRS may belooking at these deals to make
sure they're getting their fairshare of the taxes. Absolutely.
(24:04):
An expensive car. Driving thatfor a year could generate a tax
burden between five and $13,000,depending on how long you drive
the car and the value of it
Laura Fisher (24:16):
and and they wouldn't even thought about hey,
I've just driving a sexy newcar.
Unknown (24:21):
Exactly.
Laura Fisher (24:23):
That would be so that's where you're gonna come
in.
Unknown (24:26):
I'd like to make them aware of those things.
Understand the difference ifthey're a W two employee, which
as an entrepreneur, I'm sure youunderstand, you know, you get
paid a salary, you'rewithholding everything's taken
out or are you 1099 contractorwhere you're responsible for
those taxes, Social Security,different things like that. And
if you are, that can be a big,big surprise at the end of the
(24:47):
year when that tax burden comesdue or you get, you know, a
bunch of 1090 nines for justover $400 Each or $500 Each that
you have to be responsible for.
Laura Fisher (24:58):
Wow, okay, so Um, if my listeners are interested
in talking to you some more, andlearning more about this for
their loved ones, or maybefiguring out how to make it into
a career themselves, and I knowyou're going to be growing your
career in this in this area. Sotell us how to reach you
Unknown (25:18):
can reach me via email Chuck at Steve's inequity.com.
That's by far the best way.
Laura Fisher (25:22):
I'll have that in the show notes. And how about
are you on LinkedIn?
Unknown (25:26):
I'm on LinkedIn. I don't know my profile. That's
right. I'll put that onLinkedIn, and Twitter. And we
also have a Facebook page.
Laura Fisher (25:34):
All right, well, I find it fascinating. And I think
we need to revisit this as itgoes along. Because I well, I
don't know that it actuallyimpacts the small business
community, but it's justbusiness. And those they're
small. I mean, those are, thoseare baby entrepreneurs, right?
(25:56):
They're trying to do somethingwith their talents. And for that
matter, it does matter to keeppeople informed.
Unknown (26:03):
Absolutely. They're all entrepreneurs, and it's ongoing
financial literacy. Those arethings that will make life
better for everybody. The moreentrepreneurs in the world, the
better off we're gonna be. Ithink
Laura Fisher (26:14):
so here in America. All right. Well, thank
you so much, Chuck for stoppingby. And I look forward to seeing
how your career grows in this inthis specific field. Thank you
for having me. All right. Untilnext time, you better be up to
something. Thanks for joining usthis week on Small Business
Insights, make sure you visitour website at Fisher
(26:36):
podcast.com where you can followthe podcast on iTunes or your
favorite podcast platform, soyou'll never miss a show. If you
enjoyed and found value intoday's episode, we'd appreciate
a rating and review on iTunes orsimply share it with a friend
that would help us out to makesure you tune in next week for
our next episode. Until then,you better be up to something
Welcome to small business insights where back
office conversations give usinsight to what's really going
on. Is it grit, or luck? Thatgives a small business owner an
advantage? Let's find out. I'myour host, Laura Fisher. All
right. Well, today in thestudio, I have a special guest,
(00:24):
Steven Bates, but he goes bycheck. And he's from CJ equity
advisors. Check, say hello.
Unknown (00:31):
Hello. Thank you for having me.
Laura Fisher (00:32):
All right. This is his first time in the studio. So
I'm, I'm, I wish I could seehim. He's a good looking man,
you'll see a picture in theartwork and social media. But
he's got some special interestwhen it comes to financial
planning. But before we get intothat, Chuck, tell me how you got
here?
Chuck Bates (00:51):
Sure. So I'm a military brat. I grew up
overseas. My dad was in the AirForce. I ultimately went to the
University of Nebraska. Afterthat, I'm
Laura Fisher (01:01):
supposed to say something after that Go Big Red.
Okay,
Unknown (01:04):
there you go. It's especially painful today because
our head coach was firedyesterday.
Laura Fisher (01:08):
Oh, my cars are just what they lose it.
Unknown (01:12):
Yeah, it was. It's unfortunate. But yeah, it's it's
probably definitely warranted.
All
Laura Fisher (01:17):
right. All right.
So I'm sorry. I usually whensomebody says it from Nebraska,
they usually have something tosay afterwards.
Chuck Bates (01:23):
I'm a little sad today. Okay. Yeah, so I work for
Steve and equity advisors. I'vebeen there about two years. I
started into this path after 16years at a big asset management
firm here in Houston. Thatallowed me to be exposed to a
huge number of nonprofitcompanies. Bridgeway gave 50% of
their profits to charity. Andthrough that process, it led to
(01:45):
my wife and I becoming fosterparents and adoptive parents. In
that process, I learned that ifa child has spent time in the
foster care system, they getfree tuition or tuition waivers
to any public university in thestate of Texas. And it was very
curious to me, I was like, if Ididn't know that, what else
Don't I know? Yeah, started tostudy that and found out I could
(02:06):
make a entrepreneurial careerout of
Laura Fisher (02:08):
it. Out of what helping folks find Career Money
helping college money.
Chuck Bates (02:14):
Yes, ma'am. Helping college bound families save,
learn about how the financialaid system works. Determine what
kind of student or uniquesituation they have in in, if
you keep an open mind about yourschool list and where you want
to go. There's a lot of moneyout there, and most families can
save somewhere between two and$20,000 a year.
Laura Fisher (02:31):
Wow. So are you talking about student that has
academics? Except excellence? Orjust talking about you said,
foster care? That's kind of awhat a, an anomaly? I mean, how
do you find out these things?
That's you go to you
Unknown (02:44):
what exactly. So I started by dissecting the
federal financial aid formula,it comes out once a year, and
there's a lot of intro inputsthat go into it. Examples would
be, and they apply very much toyou and your audience. If you're
a small business owner, and youhave more than 100 employees,
they'll assess the value of yourbusiness before they give you
(03:05):
financial aid. If you have lessthan 100 employees, they don't
assess the value of yourbusiness. So like in a case like
that a business with a modestnet income of 100 $100,000 could
technically be valued up to, youknow, close to a million
dollars, and that woulddramatically impact the amount
of student aid you might beeligible or based on your
business not eligible for.
Laura Fisher (03:27):
Wow, I don't like the news of that. What other
kinds of surprises are outthere?
Unknown (03:32):
divorced families, right? If you're divorced in
your student lives with a parentthat has the lower income 51% of
the time, they only assess someschools only assess that parents
income for financial purposes.
Other schools will assess bothparents and some schools will
assess both parents and ifthey've remarried the additional
parents.
Laura Fisher (03:54):
So that's where you're saying you kind of know
what institutions to go to andwhat rules. So how do you get
your knowledge on things likethat,
Chuck Bates (04:02):
I've been lucky to meet a number of mentors in the
field. There's software outthere that can help with it. So
you just continue to study, youlearn the formulas, you you dig
into the how each school'sbusiness model works, right?
Rice, for example. They don'tnecessarily give a lot of merit
scholarships for great academicgrades. But if you're good
(04:23):
enough student to get acceptedthere and you have a low income,
they meet nearly 100% of yourneed with aid and grants. So
that means money, you don't haveto pay back where a lot of other
schools, they may meet a smallerpercentage, and then of that
smaller percentage, it will be acombination of grants and loans.
So you're in addition to notcovering the full amount, you're
borrowing money that you'll haveto pay back at a later day.
Laura Fisher (04:45):
All right, so as a financial planner, how do you
when do you start with a family?
Is it when my child is born?
Like I set up the collegesavings account when they're six
months old? Or is that house howsoon you start or when do you
really start?
Unknown (04:59):
That is the best time To start saving for, for sure.
There's what 218 months from thetime a child is born until they
leave, oh my gosh, you alreadyhave numbers for college. And if
you think about what it cost togo to college right now, it's
about 30,000 a year. So 120,000for four years, if you divide
that number out, you're lookingat five to $600 a month, and
(05:20):
it's unrealistic for a lot offamilies to save that much. If
you have two or three or fourkids, it grows exponentially.
Laura Fisher (05:27):
Right? And how are scholarships easy to find? I
know for I was disillusioned, Iwill tell you this, I have four
children. One of my childrengraduated the top 10% of his
class, only missed one mathquestion on the LSAT. Okay, so
he got automatically acceptedinto Texas a&m, but a very
(05:50):
nominal like $1,000 scholarship.
Right? That was it? Yeah.
Unknown (05:56):
So in Texas and California, those two states
especially, there's such demandto get into the in state
schools, that they're notnecessarily very generous with
either need or merit based aid,right? There's, you know, they
accept maybe 8000 Incomingfreshmen a year, give or take.
And if you just think about thetop 10%, or now it's down to top
(06:18):
6%. You know, there's more thanenough students to fill their
entire demand, where a lot ofother schools don't have that
same challenge.
Laura Fisher (06:27):
So that's when I come to you or a college
planner, saying, I got thisexceptional student, but I don't
have the money to put them inthere. He's got his eyes set on
Texas a&m, can you help him?
What steer in a differentdirection? Is that what you do?
Unknown (06:42):
So we would look at the student's grades and test
scores, and about 85% of allscholarship dollars come from
the institutions themselves. Andthat's kind of the middle of the
road private schools that aremost generous with academic
finance based financial
Laura Fisher (06:58):
state schools.
Exactly. Okay. And then I think,Oh, I can't afford that. Because
it's a private school
Unknown (07:04):
right? There. sticker prices are typically more
expensive, and parents getdiscouraged or scared off by
that. But the reality is the netcost after the merit based
scholarships, almost alwaysbring those closer to in line
with the state schools. That'stheir Bogey, these private
schools, they realize that's whothey're competing against. And a
(07:25):
lot of them want to bring inbetter academic students to
bring up the kind of standingsor rankings, I'm sure
everybody's seen money, orForbes, or all these different
rankings. And by bringing inbetter test scores, and grade
point averages from out ofstate, their freshman class
typically looks better, and theyuse that merit base made aid as
(07:48):
an incentive to bring down thecost and get the best students.
Laura Fisher (07:51):
Now, as a financial planner, you know, I
know you're going to encourageus to start saving, are there
all kinds of saving packages anddifferent ways to do it
programs? I know Texas has some,I'm sure they're in other
states. And then like I have, Ihave another son, who I've saved
all this money up, but he's notgoing to college, what I do with
all that money,
Unknown (08:11):
so all great questions, there's a lot of choices. My I
have a son who has some somechallenges, and college may not
be in his future, we saved viaUTM a account for him. It's just
an investment account that is inthe child's name. And that
monies for has to be used forhis benefit. And my goal with
(08:32):
him is, you know, maybe he'llbecome a welder or H vac
engineer or something. And hecan use that to start a
business, right? We're bothentrepreneurs, we, we value
that. And, you know, he may haveto go through a apprenticeship,
but eventually he can be abusiness owner. And that would
be my goal. 529 plans are veryflexible. If you fund that name,
(08:54):
a beneficiary and not all themoney is used or a student does
does not go to college, you canchange the beneficiary to
another, another child or even aniece or nephew or grandchild
Laura Fisher (09:04):
that has to go towards education has to go to
education. You have to staywithin the state.
Unknown (09:08):
No, there's no requirements around that. And
that money can be withdrawn. Butthere could be financial
penalties. Well, that's a that'sthe case for anything. Yeah,
exactly. So it's not like it'sgone forever. And as you age,
there's something called an ABLEaccount it can be converted to
which helps with medical andother expenses in old age.
Laura Fisher (09:29):
Okay. So tell me about the firm you work for,
what kind of what kind ofclients do you have overall, I'm
sure you do more than collegiateplanning and, and all that. So
tell me a little bit more aboutyour firm. Sure stage
Unknown (09:41):
and equity advisors was founded by Lloyd stage and about
25 years ago. We manage assetsfor about 100 families to under
a million dollars give or take.
We provide tax planning, taxservices, investment management,
financial planning, retirementplanning, small business
assistance, so kind of concreteHands of financial planning
depending on where our clientsare, and we do our best to meet
(10:02):
them where they're at,
Laura Fisher (10:05):
and how many, how many planners, how many
financial planners are in youroffice,
Unknown (10:09):
there's three, three employees in the office, two
CFPs, and myself. And we worktogether as a team to provide
those services.
Laura Fisher (10:18):
That sounds like a nice, manageable shop. Like I'd
could call you and talk tosomebody,
Unknown (10:23):
you'll get somebody on the phone every time. That's,
that's a promise.
Laura Fisher (10:27):
That's good. All right. So you and I have been
talking about this nisl. And itsname, image and likeness for at
athletes in the college level.
So tell us what that means. Andthen after the break, we'll go a
little bit more into it.
Unknown (10:45):
Sure. It's a relatively new development a little over a
year ago, most of the states,there's 29, by my count recently
that have passed laws sayingthat students, student athletes
are now allowed to profit fromtheir name, image and likeness,
because of all the attentionthey bring to university. In
some cases, it can be very, veryprofitable or lucrative. And it
provides opportunities forstudents, student athletes that
(11:07):
they didn't have prior to this,where they were very restricted
by the NCAA rules on where andhow they could earn money. Which
was basically because the NCAAwas saying, you know, if you
give them these additionalbenefits, it's illegal and
you'll get unfair advantage andon the sporting field,
Laura Fisher (11:25):
yeah, it looks like you're bribing or payola or
some favoritism, and exactly allthat good stuff. And I'm sure
that has existed.
Unknown (11:32):
Oh, for sure. But but there's also been, you know,
great instances, I think, youknow, like Mike law of the The
Blind Side, you know, there's abig kind of concern that they
adopted him just to playfootball at Ole Miss. And
Laura Fisher (11:46):
that's right, that was implied in the movie as a
great movie. It was. But acollege athlete is at a
disadvantage, because it takes alot to be an athlete, it takes a
lot to go through college and doboth. And then they're not
allowed to have a job, or somekind of outside revenue. How's
(12:07):
that worked out? Yeah.
Unknown (12:08):
Previous to the change the there were very high
restrictions about when theycould work, what kind of job how
they could get paid. And it wasvery difficult for a lot of
them. Although they did receivea stipend, typically, it was not
very much, typically less than$300 a month, I believe, in most
cases. And that's not much totake a take a friend on a date
(12:29):
or go out to dinner, or, in somecases even traveled to see
friends or family or just buysome clothes buys. Exactly. It's
the things we take for granted.
Laura Fisher (12:39):
Yeah, those entertainment dollars as are
pretty important in college too.
All right, so when we come back,we're going to talk a little bit
about what the NIR why it cameabout. And maybe if you have a
young athlete, what you need tobe looking for and planning for
as they go into college. Allright. Sounds great. All right.
We'll be right back.
Unknown (13:00):
Ladies and gentlemen, this is your captain speaking.
Thank you for listening to smallbusiness insights. Today's show
is sponsored by GAVI spaces, newlocation in Houston, air
conditioned warehouse units withloading docks, carrier services,
fulfillment, break room, free WiFi, the perfect place to grow
your E commerce business Jeffyspaces located in the design
(13:20):
district of Houston. And nowback to small business insights.
Laura Fisher (13:25):
All right, I'm back with Chuck Bates from CJ
equity advisors and we'retalking about the ni l. The name
image and likeness programthat's going on. I don't even
know what to call out
Unknown (13:38):
the country. Yes, almost half our states are more
than half our states now havelaws than the makeup acceptable.
Laura Fisher (13:45):
So I'm here. You know, our show here. We recorded
in Houston, and I'm familiarwith the Aggies. Right? And so I
remember when Johnny Manziel wasreally big. And was he the
Heisman Trophy winner? Yes. AHeisman Trophy, okay. And we
(14:05):
were going berserk about himbecause he was so unpredictable
and so fun to watch. He madebass F football fun to watch.
But they had shirts, Texas a&mshirts with his number on it.
But he wasn't getting anyroyalties off of that. Is that
right? At least not legally.
Okay, so So we'll say no,correct. All right. So that's
changed. That's what this isabout. Because when somebody is
(14:28):
benefiting off of my name, andlikeness and image, that's me.
That's my I'm the product andhere another institution was
selling it and benefiting fromit. And someone said, No, that's
wrong. Exactly. Okay. So tell usa little bit of history about
that.
Unknown (14:49):
So I think and this is just my opinion, I think it goes
all the way back to 2009. Therewas a famous basketball player
named Ed O'Bannon at theUniversity of California, Los
Angeles, UCLA. lay in there wasa quarterback at Arizona State
and ultimately Nebraska where Iwent that were part of a class
action lawsuit. Basically sayingit's unfair that the NCAA
(15:12):
profits for my name, image andlikeness, and I don't see any of
that share of revenue.
Laura Fisher (15:17):
Yeah, they're already limiting Him on any kind
of revenue, they're probablyfeeling hungry and whatever, you
know, taken advantage of.
Unknown (15:26):
And these, these student athletes bring a lot of
eyes to not only their program,but donations, donations. And,
you know, if you look at themost recent big tin meteorites
deal, it was $7 billion overseven years, that's a billion
dollars a year, that's goinginto the schools that's divided
to the schools.
Laura Fisher (15:46):
And the schools are dividing that however they
want to,
Unknown (15:49):
yeah, they they get their portion and can use it as
they see fit. And that's notgoing to the student athletes
always
Laura Fisher (15:56):
about money, let's just break it down to that.
Alright, so let's back to thestudent who is who's creating a
sensation, alright. And theycan't tell us where they are.
Unknown (16:08):
So they can now they can be a spot, or they can
advertise for companies. Theycan nice, yeah, they can do
autographs, they can have tshirts created for them. One of
my favorite ones, and Iapologize, I don't know the
young lady's name. But duringthe NCAA basketball tournament,
(16:28):
a basketball got shot up on topof the hoop and got stuck near
the timeclock at the very topright, and they couldn't reach
it. And they, you know, firstthey were trying to poke it with
a broom and different things.
And then eventually, two of thecheerleaders, one male and one
female went over there, and themale lifted up the female, and
she got the ball and the gamewent on, right. And they made a
t shirt about that. And she wasable to claim some of the
(16:50):
profits. And that's a neat kindof unexpected way where where
somebody was able to profit frombeing the face of that moment in
time.
Laura Fisher (17:00):
Okay. All right.
So how are they managing this?
Well,
Unknown (17:04):
each school is required to or not required, but has a
typically as a program that theyprovide kind of financial
literacy and education. Thenthere's the collective. So this
would be a group of fans thatkind of pools their money and
allows the athletes to get paidfrom the money but uses them
(17:25):
whether it's on social media toadvertise or market certain
things. Well, I
Laura Fisher (17:29):
know when I used to work at a&m, back way back
when and if you were going touse some their logo, you had to
go through licensing department.
So are they going to have thesame thing for student athletes,
student
Unknown (17:40):
athletes cannot use their logo or uniform when
they're doing outside activitiescurrently. Okay. So that's one
of the things I can't do, and itcould get them in trouble with
compliance in this in the statelaw. And that's one of my
biggest concerns, to be honest,is do the students, student
athletes know what they can andcan't do? Do the businesses that
are paying them know what theycan and can't do? And if a
(18:04):
business is maybe lessscrupulous, scrupulous, could
they, you know, intentionallyget a player in trouble or
unintentionally, you know, wejust want the best outcomes for
everybody. So the more we caneducate both the businesses and
the student athletes about whatis approved and not approved is
pretty important. Well, yeah.
Laura Fisher (18:21):
And if I'm a student athlete, I'm not going
to have the business savvy toapprove or disapprove who's
using my likeness.
Unknown (18:27):
Yeah, it's funny, you bring that up, because they took
a survey recently of studentathletes, and over 50% said they
wanted more training andeducation around the the
financial and legalramifications of being involved
in in IO. So this is a newfrontier. It really is. It's
it's happening on the fly. It'slike, it's like building an
(18:48):
airplane in the sky almost.
Laura Fisher (18:50):
So where do you see your part as a financial
adviser? Where do you see theeducation begin? And how can you
walk into athlete through that?
Unknown (19:00):
Really, it's just intellectual property and
research. The first thing I'dsay is the laws in the state you
went to high school, probablyaren't going to be the same as
the state you're going tocollege in assuming you go out
of state. If you stay in state,it's one thing but in a lot of
cases, those laws and rules aredifferent. The most striking one
to me in Texas is that highschool athletes are not allowed
(19:21):
to profit from NFL. So we had anexample of that with a young
student athlete from Dallas FortWorth. He was a highly regarded
quarterback recruit, and he leftthe state before high school was
finished, and went to college ina state where that was
acceptable, and why he left. Idon't know him personally, but a
lot of people have speculatedthat
Laura Fisher (19:43):
that's the case.
And so what was the consequence?
He went
Unknown (19:47):
there and was able to immediately start getting in il
deals. He stayed there for ayear and lo and behold, he
transferred back to UT startedas their starting quarterback
this weekend and was injured butuh oh wow. And, you know, so he
left the state that it wasn'tallowed him, went to another
state probably made some money,but we don't really know. And
(20:07):
his back is the startingquarterback at UT.
Laura Fisher (20:09):
Okay, let's talk about injury. So what are the
consequences if they don't getto fulfill their year of playing
and the expectations of theadvertiser is not met?
Unknown (20:22):
That's a great question. And it's one of the
biggest concerns I have, youknow, what if they don't meet
their obligations as a student?
What are the consequences? Howdo they go about that? Or if, on
the other flip side of thatcoin, if a student does
everything they do, and thebusiness doesn't meet their
obligations? Right? What RAM?
What? How can the student, youknow, become whole? If you will,
Laura Fisher (20:45):
right? It sounds like there's gonna be a whole
new industry of NIHL agents,
Unknown (20:51):
you're, you're definitely starting to see them.
And that's one of the bestthings with most of the state
rules, like, especially inTexas, and most of the other
states, the students are nowallowed to have professional
representation. And I thinkthat's one of the most important
things for them.
Laura Fisher (21:05):
It will help what they weren't able to do that as
well. That's part of it. Yeah,before you would lose your
eligibility. So if I, if I wasJohnny Manziel, are a high
performing athlete. In college,I wasn't allowed to have an
agent.
Unknown (21:19):
Correct, you would lose your NCAA eligibility. They
consider that becoming aprofessional basically.
Laura Fisher (21:25):
So I guess they just call him a friend. Right?
And you can't, there's no,there's not supposed to be any
connections or ties or stringsor anything attached.
Unknown (21:34):
Yeah, there was definitely a lot of that's
Laura Fisher (21:37):
a lot of promises.
I mean, how does that how does ayoung man or young woman know
that that friend is going to becredible?
Unknown (21:46):
Well, and in theory, they're not even supposed to
have contact with them untilthey've graduated and fulfill
their eligibility.
Laura Fisher (21:51):
But we know it happens. You think so?
Unknown (21:54):
In they don't. And I think that's why, you know, some
athletes probably were takenadvantage of. A lot of it
depends on their family and theconnections they have. You have,
they've been through some ofthose things before. You know, a
lot of these athletes are secondgeneration their parents played
in college in some of the samesports.
Laura Fisher (22:13):
Wow, it sounds like an opportunity. And also
sounds like a big mess. As faras administration of it.
Unknown (22:21):
Yeah. And, you know, at the University of Nebraska,
where I'm most familiar with thethere's a gentleman who left the
football program to create abusiness, athlete branding and
marketing. And that'sspecifically what he does. He's
an agent now and helps providethe legal compliance financial
accounting tax advice to thestudents, as they get deals.
Laura Fisher (22:44):
Wow. Wow. And they have to be good at it. I mean,
an exceptional athlete, I usedto one of my, I have quite a
checkered past. But one of themwas my I got my degree in music
business. And I learned therethat I like the back office
side, I'm a musician, but I liketo, I like the back office
(23:06):
business side of it. And whenyou have, when you let the
athlete or the performer dotheir thing, you don't you don't
have them worry about the backoffice thing. So they can
concentrate on their craft. Andthat can be very distracting. I
mean, I know in college, when Iwas at a&m and advising those
(23:26):
college students, boyfriends,and girlfriends can just be a
huge distraction, I can imaginefinancial deals and expectations
and having an advertiser say,Hey, you didn't perform like I
wanted you to Saturday, I'mgonna back out of this deal. I
mean, I'm sure that kind ofstuff half is gonna happen,
Unknown (23:44):
that could happen. And my concern is, you know, some of
these deals are not cash deal.
So maybe you get an apartmentand you do social media
appearances, or you get a carand you get to drive it for a
year. But all of those thingsare considered alternative
compensation. And the IRS may belooking at these deals to make
sure they're getting their fairshare of the taxes. Absolutely.
(24:04):
An expensive car. Driving thatfor a year could generate a tax
burden between five and $13,000,depending on how long you drive
the car and the value of it
Laura Fisher (24:16):
and and they wouldn't even thought about hey,
I've just driving a sexy newcar.
Unknown (24:21):
Exactly.
Laura Fisher (24:23):
That would be so that's where you're gonna come
in.
Unknown (24:26):
I'd like to make them aware of those things.
Understand the difference ifthey're a W two employee, which
as an entrepreneur, I'm sure youunderstand, you know, you get
paid a salary, you'rewithholding everything's taken
out or are you 1099 contractorwhere you're responsible for
those taxes, Social Security,different things like that. And
if you are, that can be a big,big surprise at the end of the
(24:47):
year when that tax burden comesdue or you get, you know, a
bunch of 1090 nines for justover $400 Each or $500 Each that
you have to be responsible for.
Laura Fisher (24:58):
Wow, okay, so Um, if my listeners are interested
in talking to you some more, andlearning more about this for
their loved ones, or maybefiguring out how to make it into
a career themselves, and I knowyou're going to be growing your
career in this in this area. Sotell us how to reach you
Unknown (25:18):
can reach me via email Chuck at Steve's inequity.com.
That's by far the best way.
Laura Fisher (25:22):
I'll have that in the show notes. And how about
are you on LinkedIn?
Unknown (25:26):
I'm on LinkedIn. I don't know my profile. That's
right. I'll put that onLinkedIn, and Twitter. And we
also have a Facebook page.
Laura Fisher (25:34):
All right, well, I find it fascinating. And I think
we need to revisit this as itgoes along. Because I well, I
don't know that it actuallyimpacts the small business
community, but it's justbusiness. And those they're
small. I mean, those are, thoseare baby entrepreneurs, right?
(25:56):
They're trying to do somethingwith their talents. And for that
matter, it does matter to keeppeople informed.
Unknown (26:03):
Absolutely. They're all entrepreneurs, and it's ongoing
financial literacy. Those arethings that will make life
better for everybody. The moreentrepreneurs in the world, the
better off we're gonna be. Ithink
Laura Fisher (26:14):
so here in America. All right. Well, thank
you so much, Chuck for stoppingby. And I look forward to seeing
how your career grows in this inthis specific field. Thank you
for having me. All right. Untilnext time, you better be up to
something. Thanks for joining usthis week on Small Business
Insights, make sure you visitour website at Fisher
(26:36):
podcast.com where you can followthe podcast on iTunes or your
favorite podcast platform, soyou'll never miss a show. If you
enjoyed and found value intoday's episode, we'd appreciate
a rating and review on iTunes orsimply share it with a friend
that would help us out to makesure you tune in next week for
our next episode. Until then,you better be up to something
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